TIANJIN, Aug. 26 (Xinhua) — China's largest SUV and pickup maker Great Wall Motor Co., Ltd. said that its first batch of secondhand vehicles departed from north China's Tianjin Municipality recently and will be exported to Asian and African countries.
Often Cars (Tianjian) Import and Export Trade Service Co., Ltd., the wholly owned subsidiary of Great Wall, said ten secondhand vehicles, involving a total value of 27,000 U.S. dollars, would be sold in countries including Cambodia, Nigeria and Ghana.
A total of 60 secondhand home-grown vehicles, with a value of more than 700,000 U.S. dollars, were exported by another foreign trade company to Nigeria from Tianjin in July.
China has launched exports of secondhand cars since May, with Beijing, Tianjin, Shanghai and Guangdong among the first batch of 10 regions allowed to conduct such trade, according to the Ministry of Commerce.
As of July 22, south China's Guangdong Province has exported 300 secondhand vehicles to Cambodia,..
Category: Newswire
Renault Samsung may slash jobs; others consider restructuring
Carmakers here are mulling job cuts and restructuring as they enter the fog of uncertainties over a sharp drop in sales, continued confrontations with labor and the delayed launches of some new vehicles.It is the first restructuring plan proposed by the Korean unit of the French carmaker in seven years.In a desperate effort to sustain its production volume in Busan, the company has been asking its head office in Paris to allocate production volume for the XM3 compact SUV.
carsales.com Ltd. Partnering With Mobiliti To Offer Vehicle Subscriptions In Australia
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Dana Acquires Nordresa, Industry-leading e-Powertrain Integrator
MAUMEE, Ohio, Aug. 26, 2019 /PRNewswire/ — Dana Incorporated (NYSE: DAN) announced today that it has completed the acquisition of Nordresa Motors, Inc., which is a prominent integration and application engineering expert for the development and commercialization of electric powertrains…
Auto companies in India halt production to tackle slowdown
With India’s auto sales declining for the ninth straight month in July, more automotive manufacturers are laying off workers and temporarily halting production to keep costs in check.Japanese carmaker Toyota Motor and South Korea’s Hyundai Motor are the latest in a string of companies to halt production at plants to combat slumping sales, according to company memos to employees, reviewed by Reuters.The sales declines have triggered major job cuts in India’s auto sector.
Nio to cut more jobs as electric vehicle startup continues to struggle
Electric carmaker Nio Inc is to slash jobs to control expenses and improve operational efficiency, as the Chinese startup feels the pinch from a lackluster performance and the overall slowdown in the country.In the first seven months of 2019, the company delivered 8,379 vehicles.The company posted a net loss of 2.62 billion yuan ($370 million) for the first quarter of this year, 71.36 percent more than the same period in 2018.
Profit of battery giant CATL surges in H1
SHENZHEN, Aug. 24 (Xinhua) — Contemporary Amperex Technology Co., Ltd. (CATL), China's largest automotive lithium-ion battery maker, posted a 130.8 percent net profit growth in the first half of 2019 amid a booming new energy vehicle (NEV) market.
Net profit in the January-June period rose to 2.1 billion yuan (296 million U.S. dollars), CATL said in its interim statement filed to the Shenzhen Stock Exchange Friday.
During the six months, its total revenue soared 116.5 percent year on year to 20.3 billion yuan. The revenue from its automotive lithium-ion battery systems business surged 135 percent to 16.9 billion yuan, according to the statement.
In the first half, CATL had a 46 percent share of the automotive lithium-ion battery market in China.
Despite sluggish sales for gasoline-powered vehicles, the NEV market has experienced a boom in China and thus resulted in a strong demand for lithium-ion batteries.
In the six months, automobile sales in China fell 12.4 percent year on ye..
Volkswagen issues recall of 679K cars over problem with rolling away
Volkswagen is recalling some of its cars because of a problem that could let them roll away unexpectedly.The magazine claims Diess believes Tesla’s electric technologies and software developers would benefit the automaker.FOX Business’ Rachel Tesler and The Associated Press contributed to this report.
Evergrande Health to invest 6 billion yuan in electric vehicle project
Evergrande Health said on Friday it will unveil a next-generation electric vehicle at the Geneva International Motor Show in March, and will invest 6 billion yuan in the second half this year, shrugging aside a loss of 1.98 billion yuan for the six months to June 30.
Aurus Senat Sedan price to be $272,400
MOSCOW, August 23. /TASS/. The price of Aurus Senat Sedan executive-class car will be 18 mln rubles ($272,400) in the basic configuration, Chief Executive Officer of Aurus Adil Shirinov said on Friday.
“Aurus Senat Sedan, the car presented here to you this day, will have the price of 18 mln rubles ($272,400) in the basic configuration,” Shirinov said.
The vehicle will not be offered for retail sales in 2019, he noted.
About 200 vehicles will be produced in 2020, Minister of Industry and Trade Denis Manturov said earlier. A portion of them will be subjected to tests, another portion will be provided to the Russian government and the rest will be freely sold.
The first showroom of Russian brand of executive cars Aurus was opened in Moscow City business center earlier on Friday.
Aurus is a Russian brand of cars for senior officials. The car was designed as part of the Cortege project, which has been implemented by NAMI (Central Scientific Research Automobile and Automotive Engines Institu..